It looks to me like a joke about not getting laid.
But it’s extra silly because it’s a dude talking about his virginity growing back, when afaik that phrase probably referred to a woman’s hymen growing back after a long dry spell (which would also have been a joke).
I think if it's growing back that's a sign of very little fucking going on. And I'm not sure which Madonna song you're referring to, but if it's American Pie by Don McLean, that song is about the plane crash that killed Buddy Holly.